Andy, Becky, and Charlie formed a partnership. Their business was to create Web pages for students. They would take a person's academic and career information and make an attractive Web page. Andy supplied the computer and technical advice. Becky was the business manager. Charlie did the bulk of the marketing. Charlie and Becky became irritated with Andy, as it seemed they did more work than he did. Charlie and Becky decided to end their partnership with Andy. During the winding-up process, how are the assets of the partnership paid out?
What will be an ideal response?
During the winding-up process, the assets of the partnership are paid out in the following order: First, to creditors of the partnership, including creditors who are partners. Second, any leftover funds (or obligations) are distributed to the partners. Unless the partnership agreement provides otherwise, partners share equally in profits-and losses.
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When there is a direct conflict between a federal law and a state law, both laws are rendered invalid.
Answer the following statement true (T) or false (F)
Answer the following statements true (T) or false (F)
1. We tend to have too many positive thoughts and think about them over and over. 2. While important in the workplace, an individual’s personality is not a good predictor of job performance. 3. Internalizers tend to have high self-esteem and self-confidence. 4. A person with a high level of the machiavellianism trait would agree that power should be used to reach desired ends.
On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is:
A.
| Accounts payable | 4,000 | |
| Merchandise inventory | 4,000 |
B.
| Merchandise inventory | 5,800 | |
| Accounts payable | 5,800 |
C.
| Purchases | 5,800 | |
| Accounts payable | 5,800 |
D.
| Merchandise inventory | 5,684 | |
| Accounts payable | 5,684 |
E.
| Purchases | 5,684 | |
| Accounts payable | 5,684 |
In the context of using information technology in the business-to-consumer market, which of the following statements is true of opt-in emails?
A. They are unsolicited commercial emails. B. Theytend to reach interested consumers. C. They facilitate pharming. D. They are used by hackers to break into a computer system.